Bitcoin, the leading cryptocurrency, struggled to break above the $17,250 level on December 2, and it is now heading lower to $16,900. Similarly, Ethereum, the second-most valuable cryptocurrency, has fallen after being rejected at the $1,300 level and is currently consolidating near $1,275.

Major cryptocurrencies were trading in the negative early on December 02, as the global cryptocurrency market value fell over 1.30% to $849.73 billion on the previous day. Over the last 24 hours, overall crypto market volume fell 14 percent to $42.61 billion.

The entire volume in DeFi was $2.99 billion, accounting for 7% of the total 24-hour volume in the crypto market. The overall volume of all stablecoins was $40.66 billion, accounting for 95% of the total 24-hour volume of the crypto market.

Let's take a look at the top 24-hour altcoin gainers and losers.

Three of the top 100 coins that have gained value in the last 24 hours are EthereumPoW (ETHW), GMX (GMX), and Terra Classic (LUNC). The price of ETHW has increased by more than 20% to $4, the price of GMX has increased by more than 14% to $55, and the price of LUNC has increased by nearly 10%.

BinaryX (BNX), Curve DAO Token (CRV), and Dogecoin (DOGE) are three of the top 100 coins that have lost value in the last 24 hours. Whereas BNX has lost about 6% to trade at $130, CRV is down nearly 5% to trade at $0.6350. At the same time, the DOGE price is down over 5% to trade at $0.099.

The reason for its rise can be attributed to Fed Chair Jerome Powell's dovish remarks, which were critical in supporting cryptocurrencies such as Bitcoin.

Jerome Powell, the chairman of the Federal Reserve, stated that the bank will slow the rate at which it raises interest rates at its upcoming meeting.

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